Amendments proposed to the Finance Bill - continued House of Commons

back to previous text
   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francoiss
Mr David Ruffley

26

Clause     28,     page     26,     line     9,     at beginning insert 'Special'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

27

Clause     28,     page     26,     line     12,     after 'the', insert 'Special'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

28

Clause     28,     page     26,     line     23,     after third 'the', insert 'Special'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

29

Clause     28,     page     26,     line     24,     leave out 'have been reasonably' insert 'reasonably have been'.


   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

49

Clause     31,     page     28,     line     10,     leave out '16th March 2005' and insert '31st July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

50

Clause     31,     page     28,     line     12,     leave out '16th March 2005' and insert '31st July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

51

Clause     31,     page     28,     line     15,     leave out '15th March 2005' and insert '30th July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

52

Clause     31,     page     28,     line     17,     leave out '16th March 2005' and insert '31st July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

53

Clause     31,     page     28,     line     22,     leave out '16th March 2005' and insert '31st July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

56

Clause     31,     page     28,     line     24,     leave out subparagraph (a).

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

54

Clause     31,     page     28,     line     24,     leave out '16th March 2005' and insert '31st July 2005'.

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

55

Clause     31,     page     28,     line     26,     leave out '31st August 2005' and insert '31st December 2005'.


New Clauses

Advance clearance

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

NC1

To move the following Clause:—

    '(1)   This Chapter shall not have effect in respect of any company falling within either section 24(1) or section 26(1), in any case where the commissioners for Her Majesty's Revenue and Customs have on application of the company notified the company that the Board are satisfied that the transaction does not have a main purpose of achieving a UK tax advantage.

    (2)   Any application made under subsection (1) above shall be in writing, delivered either by post or by electronic mail, and shall contain particulars of the operations that are to be effected and the Commissioners may, within 30 days of the receipt of the application or of any further particulars previously required under this subsection, by notice require the applicant to furnish further particulars for the purpose of enabling the Commissioners to make their decision and if any such notice is not complied with within 30 days or such longer period as the Commissioners may allow, the Commissioners need not proceed further on the application.

    (3)   The Board shall notify their decision to the applicant within 30 days of receiving the application or, if they give a notice under subsection (2) above, within 30 days of the notice being complied with.

    (4)   If the Commissioners notify the applicant that they are not satisfied that the transaction in question does not have a main purpose of achieving a UK tax advantage or do not notify their decision to the applicant within the time required by subsection (3) above, the applicant may within 30 days of the due date for a decision in accordance with this section require the Commissioners to transmit the application, together with any notice given and further particulars furnished under subsection (2) above, to the Special Commissioners and in that event any notification by the Special Commissioners shall have effect for the purposes of subsection (1) above as if it were a notification by the Commissioners.

    (5)   If any particulars furnished under this section do not fully and accurately disclose all facts and considerations material for the decision of the Commissioners or the Special Commissioners, any resulting notification of a decision by the Commissioners or Special Commissioners shall be void.'.


Right of appeal

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

NC2

To move the following Clause:—

    'Appeals against a notice issued by the Commissioners of Her Majesty's Customs and Revenue under section 24 or section 26.

          (1)   Any company to whom a notice has been given under section 24 or 26 may within 30 days by notice to the Special Commissioners appeal on the grounds that section 24 or section 26, as appropriate, does not apply to the company in respect of the transaction or transactions in question, or that the adjustments directed to be made are not appropriate adjustments.

          (2)   If the Commissioners or the company are dissatisfied with the determination of the Special Commissioners the company or the Commissioners may, on giving notice to the clerk to the Special Commissioners within 30 days after the determination, require the appeal to be re-heard by the tribunal, and the Special Commissioners shall transmit to the tribunal any document in their possession which was delivered to them for the purposes of the appeal.

          (3)   Where notice is given under subsection (2) above, the tribunal shall re-hear and re-determine the appeal and shall have and exercise the same powers and authorities in relation to the appeal as the Special Commissioners might have and exercise, and the determination of the tribunal thereon shall be final and conclusive.

          (4)   On an appeal under subsection (1) and (3) above the Special Commissioners or the tribunal shall have power to cancel or vary a notice under section 24 or section 26 of this Act, or to vary or quash an assessment made in accordance with such a notice, but the bringing of an appeal or the statement of a case shall not affect the validity of a notice given or of any other thing done in pursuance of those sections pending the determination of the proceedings.'.


Treasury consent

   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

NC3

To move the following Clause:—

    'Sections 765, 765A, 766 and 767 of ICTA shall cease to have effect from 1st September 2005.'.


   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

57

Schedule     11,     page     155,     line     27,     at end insert—

'Income and Corporation Taxes Act 1988Section 765

Section 765A

Section 766

Section 767'.


   

Mr Philip Hammond
Mr Richard Spring
Mr Mark Field
Mr Mark Francois
Mr David Ruffley

67

Clause     71,     page     59,     line     18,     at end insert '"the Tax Acts" means ICTA and the Corporation Tax Acts and the Income Tax Acts as defined in s. 831 of ICTA;'.


 
previous section contents
 
House of Commons home page Houses of Parliament home page House of Lords home page search page enquiries index

©Parliamentary copyright 2005
Prepared 21 Jun 2005